The modern world is obsessed with speed. Throughout the last couple of decades, the idea that ‘time is money’ became deeply ingrained in the minds of millions of people around the world.
But, it is not that people naturally wanted to speed up. They are given no choice, but to live in the hurry as the result of the increasing complexity of the modern world.
‘There is more to life than simply increasing its speed.’
Mahatma Gandhi
Deadlines?
This whole situation of our world being obsessed with speed have indeed started centuries ago.
The citizens of ancient Egypt were ordered to build pyramids while the citizens of ancient China to construct the Great Wall of China, both restricted by tight construction schedules.
Globalization?
When multinational corporations came into power in the twentieth century, obsession with speed intensified. The growth of globalization speeded up the process – more people were given access to compete for available resources in different places around the world.
At many manufacturing plants in a developing part of the world employees go on strike over poor working conditions such as the amount of time spent at work every day. Sometimes, with hundreds of workers even threatening to commit mass-suicide. It is not right what is happening there.
Teaching?
Business schools around the world should not be teaching future managers that the primary goal of most companies is to maximize profits for shareholders (company owners). Business schools should be teaching future managers how to make good business decisions to run good companies in a good way.
By ‘the good way’ I mean sustainable over decades, environmentally friendly, looking after wellbeing of all of its stakeholders – not only production workers but also employees, managers, local community, suppliers, local governments, etc. In the long-term, we can build great things. Because making profit is just ‘a side effect’ of running a good company that is solving human problems.
Profit?
There are two ways to maximize profit for a company.
First, to increase sales revenue by constantly selling more products. By the way, isn’t it the source of all of those useless products we have in our houses?
Second, to lower costs, usually done by, e.g. laying off some employees, at the expense of employees’ well-being or the environment, lowering quality of products by using cheaper raw materials, refusing to upgrade to more environmentally friendly production technology, etc.
I do not want to live in a polluted world. Neither I want my wife and our two children to live in the world dominated by companies which do not care about the natural environment releasing toxic materials to nearby rivers. This was a common practice in the past done by multinational companies which offshored their production to the developing countries with no environmental laws in order to lower production costs.Â
Productivity?
Over the years, employees at various companies have been told that in order to be successful, they have to become more productive, and that working faster producing more output is consider as doing the right thing, while completely ignoring employees’ motivation.
It is because when a company is more productive, it usually benefits the company and its owners not employees: higher levels of output help to reduce the average cost of production; higher productivity rates are a source of cost saving and higher profits; highly productive companies are more competitive globally; higher productivity is a source of growth for businesses.
Honestly, I do not want to live in the world that is obsessed with speed just for the sake of higher productivity leading to higher profits for shareholders. Maximizing profits by maximizing productivity can only work in the short-term causing quality of life to be compromised. Not great!
In particular, every time when I shop on Saturdays, I do not want the cashier to crush my fruits and vegetables while passing them along the barcode scanner. Supermarket employees have to do their jobs faster and faster because very often their weekly wages, or a part of their monthly salaries, depends on how many customers they handle during each shift. As a consequence, people become obsessed with speed because their compensation is often linked with doing things fast.
And, as a result, their whole lives (and my life too) is in the hurry.
Motivation?
For the sake of chasing productivity increases, some businesses completely forgotten about balance between productivity and motivation.
And, in the long-term, motivation should not be forgotten.
How much longer will people tolerate being told to increase the pace of their lives? Is there a limit to productivity? How much longer will they agree to having less time for their families?
Shouldn’t the fast world just take a minute to contemplate whether it is still doing the right thing?
